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Austin, MN (KROC-AM News) - Austin-based Hormel Foods has announced significant job cuts involving its corporate workforce. The Fortune 500 food company says it is implementing a corporate restructuring “designed to thoughtfully align resources with the organization’s strategic priorities, support future growth, and strengthen the overall business.” A news release says the restructuring plan is expected to result in the reduction of approximately 250 corporate and sales positions. 250 Corporate and Sales Jobs to Be Eliminated “We approached every decision with care and respect for our team members,” said Jeff Ettinger, interim chief executive officer of Hormel Foods. “Our focus is on providing support and resources to those impacted as they transition from the company.” The news release says Hormel has launched a voluntary early retirement program for a portion of its “non-plant workforce.” The company will also not fill a number of open positions and will “reduce certain positions across its office-based workforce.” Up to $25 Million in Restructuring Costs Expected Through 2026 Hormel indicated it expects to report restructuring-related expenses ranging from $20 million to $25 million, with most of the charges applied in the fourth quarter of fiscal year 2025 and the first quarter of fiscal year 2026. Those expenses include one-time pension benefits, cash severance payments, stock compensation expenses, and employee benefit costs.
